EX-10.5
from 8-K
5 pages
1.1 Fee. an Annual Fee in the Amount of $50,000 (The “Annual Fee”), Payable on a Quarterly Basis of $12,500 (The “Quarterly Fee”) Upon the Last Day of Each Fiscal Quarter, Subject to the Director’s Continuous Service as a Member of the Board and Commencing in the Quarter in Which the Director Accepts This Appointment, Provided the Director Is a Member of the Board as of Such Date. Until the Company Has Raised $10 Million, or Six Months, Whichever Comes First, in Lieu of Cash Consideration, the Annual Fee Will Be Paid by Issuance of the Number of Restricted Shares of the Company’s Common Stock Equivalent to the Applicable U.S. Dollar Amount Due as Determined Based Upon the Closing Price on the Last Trading Day of Such Quarter. for So Long as the Director Serves as a Member of Any Committee of the Board, the Amount of Such Quarterly Fee Shall Be Increased by $1,250. Additionally, the Board Member Shall Receive 200,000 of Cashless Common Stock Options Struck at the Closing Price of Signing of This Agreement Vesting Monthly Over Three Years That the Board Member Serves on the Board and or Vesting Immediately Upon the Acquisition or Change of Control of Mphase Technologies
12/34/56
EX-10.1
from 8-K
5 pages
1.1 Fee. an Annual Fee in the Amount of $20,000 (The “Annual Fee”), Payable on a Quarterly Basis of $5,000 (The “Quarterly Fee”) Upon the Last Day of Each Fiscal Quarter, Subject to the Director’s Continuous Service as a Member of the Board and Commencing in the Quarter in Which the Director Accepts This Appointment, Provided the Director Is a Member of the Board as of Such Date. in Lieu of Cash Consideration, the Annual Fee Will Be Paid by Issuance of the Number of Restricted Shares of the Company’s Common Stock Equivalent to the Applicable U.S. Dollar Amount Due as Determined Based Upon the Closing Price on the Last Trading Day of Such Quarter. for So Long as the Director Serves as a Member of Either the Audit Committee of the Board, the Compensation Committee of the Board, or the Nominating Committee of the Board, the Amount of Such Quarterly Fee Shall Be Increased by $1,250. Additionally, for So Long as the Director Serves as the Chair of Either the Audit Committee of the Board, the Compensation Committee of the Board, or the Nominating Committee of the Board, the Amount of Such Quarterly Fee Shall Be Increased by $1,250
12/34/56